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on a deal to avoid the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democratic senate plan that extends tax cuts for families making less than $250,000 a year. >> that's the only option that is viable escape route. >> reporter: but republican leaders say it's up to democrats who control the senate and white house to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: house members will return to capitol hill on sunday and could begin voting that night. they would have about 24 hours to approve a deal. adding to the ur
lawmakers' monday night deadline and still no "fiscal cliff" deal is in sight. sunday the house has been called to an unusual session just in case an agreement is not reached. >>> a new report suggests the looming "fiscal cliff" is forcing consumers to lose confidence in the nation's economy. the conference board said on thursday its consumer price index fell sharply in december for the second consecutive month. >>> a potential strike by dock workers along the east coast and gulf coast threatens to cost the nation's economy billions. more than 14,000 longshoremen are ready to strike sunday. a walkout would shut ports from boston to houston. those ports move as much as 100 million tons of goods each year including everything from flat screen tvs, sneakers and snow shovels. >>> ski world entertainment plans to become a publicly traded company. the company's three parks are known for their water shows with killer whales. it earned $86 million during the first nine months of this year. seaworld's other property including two busch gardens parks and sesame place in pennsylvania. back to you.
the fiscal cliff in just hours, time is running out for congress to make a deal. and what a difference a day makes. on thursday, things looked bleak. >> speaker boehner is unwilling to negotiate we have not heard a word from leader mcconnell. nothing is happening. >> we wanted an agreement, but we had no takers. >> o'donnell: it took a trip to the white house and a package scolding from the president. >> the american people are watching what we do here. obviously, their patience is already thin. this is deja vu all over again. >> o'donnell: but by week's end, senate leaders agreed to make a last-ditch effort to get a deal. >> so i'm hopeful and optimistic. >> i'm going to do everything i can. i'm confident senator mcconnell will do the same. >> o'donnell: we'll have the
november 16, and a last-minute chance to avoid the so-called fiscal cliff. if no deal is reached, taxes will go up for nearly every american. senators reconvened thursday with tensions spilling over onto the floor. each side accused the other of stalling. >> speaker boehner is unwilling to negotiate. we've not heard a word from mcconnell. nothing is happening. >> the phone never rang. and so now here we are, five days from the new year. and we might finally start talking. >> reporter: senate majority leader harry reid skewered house speaker john boehner, charging he's more interested in his leadership position than in bipartisan legislation. >> the speaker's no. 1 goal is to get elected speaker on january 3. >> reporter: the two sides are at odds over tax cuts and spending. republicans say it's up to the democratically controlled senate and white house to reach an agreement. >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: members of the house were told to come back to wash
. hours from the fiscal cliff. what both sides are saying t the prospects for a deal. cbs 5 eyewitness news is ne. good evening, i'm ann notarangelo.,,,,,,,, we begin with breaking newsn concord: a car --out of control -- slams into a fun home... anli
. >> thank you. >>> there's more urgency in washington to get a deal done before the so-called "fiscal cliff" deadline less than a week from now. senate majority leader harry reid was reportedly at the capital on christmas working on a scaled-down plan to avoid tax hikes for all about the wealthiest americans. his plan would include short term spending cuts instead of long-term deals that had been sought. >>> from hawaii. comes word that president obama will cut short vacation and return to washington later today to take part in "fiscal cliff" negotiations. christmas day the president and first lady met with servicemembers and their families. the president told the marines he was grateful for their service and posed pour pictures. >>> recent college graduates are having a tough time getting jobs in their desired lines of work. according to the latest u.s. census figures about 2 60,000 young adults with college degrees in california are working in food service and retail. >> couldn't get a job in the field that i wanted to so i figured i have to start at the bottom. >> without higher paying j
. >>> also today is the final day of fiscal cliff negotiations. hope of reaching a wide-ranging deal in automatic spending increases and tax cuts is all but gone. spending would be reduced and cuts would be felt in all areas of the government. economies have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal, one that might spare millions of americans from paying her taxes. danielle nottingham reporting now from washington. >> lawmakers are still working on it. >> i want everyo one to know i' willing to get this done but i need dance partner. >> the main sticking point between democrats and republicans continues to be over the threshold of tax increases. president obama campaigned on raising taxes on income over $250,000 while many congressional republicans have pushed back against any tax increases. president obama is placing the blame for the impasse on the gop. >> they say that their biggest priority is making sure that we deal with the deficit in a serious w
is here. it is now. >> pushing for a deal to avert the "fiscal cliff" just days before the deadline. the progress report from president obama and his backup plan. >>> why there's a manhunt for the woman in this surveillance video. a case involving death and deja vu. >> the guy grabbed him and put him in the car and took off. >> a dog taken and held for ransom. the effort to get back a pilfered pomeranian. ,,,,,,,,,,,,,,,,,,,, >>> you're watching cbs 5 eyewitness news at 6:00. >> this is deja vu all over again. we are now at the last minute. >> last-minute talks on the "fiscal cliff." tonight, we're going into the long holiday weekend still no deal. but there is a bit of confidence that the senate will reach a last-minute agreement. with three days to go there were talks today, then the president addressed the nation. thigh presidentgrace lee reports. >> reporter: the plan b would be this. if there is no deal, then the president says he still expects the senate to take action. he says at the very at least he expects to keep unemployment benefits to the jobless and to maintain the bus
trying to work out a deal to avoid the "fiscal cliff." higher taxes will give the average american about $1,500 less to spend next year. and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short term spending cuts until a bigger dooley can be reached. >> it is going to be a patch because in four days we can't solve everything. >> reporter: while senators try to brave the bad weather that has hit many parts of the country, in order to make it back here to washington, house leaders say they will not leave home unless the senate passes its bill first. >> good morning? >> reporter: house republicans scuttled the proposal from speaker john boehner last week and 48% of americans say they are to blame if no deal is reached. >> both sides here have a problem with the american people and it's why congress has 11% job approval rating. >> reporter: republican pollster frank lund says americans are fed up with gridlock in washington. >> there is no compromise and i
called congressional leaders before he left hawaii searching for a way to avoid the "fiscal cliff." danielle nottingham is in washington where it appears little progress is being made. >> reporter: president obama and the senate cut short their holiday vacations to work out a last-minute deal to avoid the "fiscal cliff." they have less than five days to come to agreement before tax hikes and spending cuts kick in. senate majority leader harry reid has a plan to let tax cuts expire for households making more than $250,000 a year along with short-term spending cuts instead of the long-term cuts that would happen if there is nodule. >> the american people are waiting for the ball to drop but it's not going to be a good drop because americans' taxes are approaching the wrong direction. >> reporter: negotiations between president obama and house republican leaders stalled last week. the house is now leaving it up to the democratic-controlled senate to solve the problem before the new year deadline. in addition to the "fiscal cliff," treasury secretary timothy geithner warned congress t
of the fiscal cliff, not just the taxes. >> o'donnell: and, nancy, if there is no deal, what happens next on monday? >> reporter: essentially we move to plan b, where senates democrat introduce their own plan in the senate that caps the bush tax cuts ap at $250,000 or less, extends long-term unemployment benefits, maybe imposing spending cuts to push off the sequester for six months or a year and we see if the republicans allow a straight up-or-down votes that only requires 50 senators to vote yes or if we have to go to a 60-vote threshold. democrats think they can get the seven republicans they need-- they think they might be able to get up to 10 who have signaled they could go along with something like this. that's not the end of the road. even if it passes, it has to go to the house and that's a tricky road as well. >> o'donnell: let's turn now to our senators who are here. senator durbin, you're the number two senator on the democratic side. how far apart are you with the republicans to reach a deal? >> well, i think there still is a chasm there. there's work to be done and not much t
are close to locking in a hard fought deal to avoid the fiscal cliff. but there are still some major sticking points, especially over spending and house leaders say they won't vote tonight. still the headline tonight is that the two sides seem to have agreed on how best to address the bus era tax cuts. randall pinkston now with the very latest. >> the senate is close to a deal, as the clock ticks toward midnight and the nation teeters on the edge of the so-called fiscal cliff. >> passed the tax relief portion. now let's take what's been agreed to and get moving. >> reporter: the tentative deal
week until the fiscal cliff. some senators are expressing concerns that a deal will not be met in time. if that happens, households with incomes between 50 and 75,000 would see their incomes rise $24. households -- as americans hit the road for holiday travel, they'll be paying less at the pump. according to aaa, the average is $3.25 for a gallon of regular, down 18 cents from a month ago. send it back to you. >> thanks very much. have yourself a good holiday. okay. >> [ laughter ] >>> you will be allowed to roast chestnuts on an open fire in this bay area this christmas eve; but the air quality district management refers you have no open fire at. as the rain and wind let up, air pollution starts to build up. there's a chance tomorrow could be declared a spare the air christmas day. experts say wood young will improve the chances it will be allowed tomorrow. >> there's a blue ray disk of a fireplace you can put in your tv and have yourself a monster fire. >> look at that. did you call for that? >> erica couldn't hear me. >> i don't think it will be a fair day tomorrow. we have a storm
without a deal. hours before the nation is set to fall off the fiscal cliff. >> there are are still significant differences between the two sides, tpheg orbiations continue. >>> if respects and temaccurates can not strike a deal before midnight monday taxes will go up for almost every american. automatic spending cuts will kick in and millions will lose unemployment benefits. >> i want everyone to know i am willing to get had this done. i need a dance partner. >>> republicans introduced a proposal by slowing the growth of social security. senators say there is movement as both sides try to compromise about which americans should start paying a higher tax rate. >> this is a lot of give and take going on right now. but republicans don't want to see new revenues, in other words democrat tax increases being used for new spending. >> in an unusual move republicans here on capitol hill called on the nation's number 2 democrat, biden, to help with the negotiations, this has at white house places a lot of the blame on the g.o.p. >> they say their biggest prierity is making sure we deal with
the "fiscal cliff." ,, ,,,,,,,,,,,, fiscal cliff. the house and senate return to work tomor s reporter tara me >>> the clock is ticking as congressional leaders struggle to avoid the "fiscal cliff." the house and senate return to work tomorrow. cbs reporter tara mergener on what senate leaders are doing to come up with a last-minute compromise. >> reporter: house majority leader john boehner and senate minority leader mitch mcconnell were in the capital building today hoping to beat the deadline to the luge "fiscal cliff." >> got to get a deal? >> hope so. >> reporter: behind closed doors, senate leaders are cobbling together a pared down agreement that at least protects the middle class from tax increases january 1. it won't address deficit resit, across-the-board spending cuts or other issues. in both party addresses, it's clear a big sticking point remains. >> it's a balanced plan one that would protect the middle class, cut spending in a responsible way, and ask the wealthiest americans to pay more. >> the president's tax hike would only fund the government for 8 days. americans deserve t
the impact if lawmakers fail to reach a deal on the fiscal cliff. bimultibillion-dollar aid bill may be a casualty of the casuemate. the ripple effects would be felt far from the fields. we asked anna warner to look into that. >> reporter: eagle lake, texas, depends on rice. it's been grown here since the 1800s. drought is usually the biggest threat, but the nervous talk in the drugstore now is about congress. >> without the farm bill, it really makes it uncertain for ehat you should do next year. >> reporter: steve is a pharmacist here and a rice farmer. the people are nervous. >> very nervous. wh reporter: what are they saying when they're coming in? what are you hearing? >> "what do we do?" you know, they don't know what to do. ht's so uncertain right now that the banks don't know what to do. the farmers don't know what it do. they're out there plowing the land, getting it all prepared for next year, with total cecertainty. >> reporter: at stake, $154 billion in federal farm aid and isop insurance, sidelined by the fiscal cliff stalemate. benefits from the farm bill also guarantee
, you guessed it the "fiscal cliff." so far, nobody knows if any significant strides towards a compromise have been made. no negotiations have been scheduled. lawmakers now have less than a week to figure out a deal. the senate is due in session tomorrow. the house has no plans to convene. >>> a weak holiday shopping report to blame for today's wall street losses. all three indices down. >>> also not so great, retail sales. mastercard says americans ended up spending just 0.7% more on holiday gifts this year than last. the worst numbers since 2008, all this is a surprise since analysts were expecting up to 4% increase in sales. cbs 5 reporter mike sugerman found the after-christmas sales aren't so hot either, at least at union square. >> reporter: the sales are good. people just aren't buying. i was at union square earlier. the place was empty. not like sagebrushes were going down the street. i went away for a couple of hours, the place is packed now. so the retailers got to hope these people are buying stuff because they need a post- christmas miracle. susan king wanted to b
on sunday on reaching a deal for the white house to avoid reaching the fiscal cliff. the president and congress on christmas vacation. it will be thursday before talks resume to try and prevent the automatic tax hikes and spending cuts from taking effect january the 1st. andrew spencer with the very latest from washington. >> reporter: some republican lawmakers say president wants the country to fall over the cliff. >> we were going over the cliff before. that's what the president wants. >> john boehner failed to get vets in on thursday. that would have raised taxes on people earning more than a million dollars a year. on friday speaker painer and the president left with no deal, each making a parting pitch. >> i asked leaders of congress to work toward a package that prevents a tax hike on middle- class americans, protects insurance for 2 million americans and laze the groundwork for further work on both growth and deficit reduction. >> the president's -- it would hurt jobs. >> reporter: the partisan bickering has put the country on the brink of a potential economic crisis. some
together a last minute bp deal ahead of monday's midnight deadline for the fiscal cliff. failure could kick the country back into a recession. wyatt andrews is on capitol hill. >> reporter: today the halls of the senate were almost empty, as proposals got traded in private and over the phone. senate minority leader much mcconnell tried to sound upbeat. going to get a deal today sir? >> hope. so. >> reporter: house speaker boehner came to the capitol but left without comment. issue number one in the talks is amending the bush era tax cuts, which if unchanged will expire and raise taxes on all americans. starting tuesday, the average tax hike will be three to 5% per person. >> let's keep taxes exactly where they are on the first $250,000 of everybody's income. >> reporter: the president campaigned to increase taxes only on families making more than $250,000 per year. almost two weeks ago, the president offered a compromise to raise taxes only on income above 400,000, hoping that might win republican support. >> i have gone at least halfway. >> reporter: the senate is also negotiating an exten
head back to washington trying to reach a deal on the "fiscal cliff." >> and you can put away the umbrellas for at least a day. we have this high pressure firmly in place over the bay area. checking the roadways so far, no major hot spots out there. here's a live look at th golden gate. we'll have much more traffic and weather coming up. >>> i'm michelle griego. >> i'm frank mallicoat. it's almost 5:00. we have some developing news in brentwood. a mysterious gas leak has prompted the evacuation of a number of homes there. pg&e crews were called out to all brook drive around 6:00 last night when residents in the neighborhood reported a gas smell. crews detected elevated levels of natural gas near an underground transformer but the exact source of the leak is still under investigation. crews detected gas inside three nearby homes and evacuated residents as a precaution. allbrook drive is still shut down but officials say the leak doesn't appear to be spreading and more evacuations are not needed at this point. >>> reports of gas shut down a safeway store in daly city last night.
to 8 hours to see it. it's part of history so people want to see it. >>> 4:57. the "fiscal cliff" deadline just hours away. talks are stalled. can lawmakers get a deal done in time? >> we'll see. plus, a driver crashes into a concord funeral home during services. what police say was happening that could result in charges. >> a house fire in san francisco's excelsior district has firefighters raising eyebrows. we'll tell you why something illegal might be behind the cause. lawmakers have just hours to prevent tax hikes and spendg cuts.. r a deal? >> your realtime captioner: linda marie macdonald >>> peering over the "fiscal cliff," lawmakers have just hours to prevent tax hikes and spending cuts. is there any hope for a deal? >> reporter: firefighters are calling a house fire in san francisco's excelsior district suspicious. we'll tell you why in just a few moments. >> it's a frosty start to this last day of 2012. what about rain? could we see that on new year's eve? weta
on the fiscal cliff. we'll ask republican senator bob corker if a deal is likely, and tell you how no deal could significantly impact everything from the price of milk to the price of gas. >> we also look back at the life and legacy of general norman schwarzkopf and a double agent tells "60 minutes" how he used facebook to infiltrate al qaeda. >> we begin with a look at today's "eye opener" your world in 90 seconds. >> the republicans in the house have left town, the negotiations
on the "fiscal cliff" clock. >> not likely to make a deal before the 1st. >> reporter: cbs 5 political analyst joe tuman says this is washington politics at its worst. >> the only thing that's going to force both sides to negotiate is going over the deadline. people will vote for it. they will be able to say exactly the opposite. >> reporter: in the meantime, consumers suffer. that's because we're about to take the plunge off the dairy cliff. a farm bill expires at the end of the year meaning the government reverts back to the 63-year-old pricing formula for milk and those costs are passed to you. nogallon of milk is about $3.50
of congress are trying to find a way to avert the so-called "fiscal cliff." lawmakers will also be back in session on thursday without a deal by the end of the year automatic spending cuts and tax increases going into effect. >>> starbucks is trying to do what it can to urge a "fiscal cliff" compromise. the coffee chain is asking employees at its cafes in the d.c. area to write the words "come together" on cups for the next two days. starbucks plans to continue the effort on social media. >>> encouraging signs in the housing market. home prices rose in most major cities in october up more than 4% from a year earlier and october was the fifth straight month of year-over-year gains. taking a look at the big board now, you can see that stocks are down today in a light trading session. you can see the dow is down about 9 points. >>> a bay area family and the season of giving. how the kindness of strangers helped save a family's injured dog. ,,,,,,,,,,,,,, donors for saving their dog. c-b-s-5 reporter christin ay >>> a you can bay area couple is thanking -- a young bay area couple is thanki
the new year, but will they get a deal together in time to avoid the fiscal cliff? as the leaders on capitol hill try to agree, locals say they are prepared to lose billions. >> locals are brace -- brace for the possibility of cuts. here is the story. >> this morning a smiling san pan mayor ed lee was one of the first officials to show up at the annual toy drive. but it doesn't look like american cities or counties will get a lot of cheer out of washington with the pending fiscal cliff and the threat of $7.5 billion in cuts. >> most of the cuts would be in health care, welfare programs for the poor, housing. >> across the bay alameda could bety supervisor predicted. >> our wic program which is a program for mothers to get nutrition for their newborn babies, that would experience a large cut. >> education would also take a hit. >> this would undo a lot of the good of the extra taxes carolinianstns are willing to invest. particularly special needs would have cuts as much as 10 10%. also, the meals program. >> it is not just the immediate cuts that worries the local officials. it is
over the so call fiscal cliff. and the two sides are not close on a deal. if republicans and democrats cannot come to an agreement, before the midnight deadline, taxes will go up on all americans beginning tomorrow. and economists believe that we will plunge into another recession. danielle nottingham has more from the white house. >> reporter: members of congress arrived at the capital to work on new year's eve to try to avoid massive tax increases and spending cuts from taking effect in just hours. >> there are a number of issues on which the two sides are still apart. but negotiations are continuing as i speak. >> reporter: sources say both sides are starting to pro mize on which families will keep bush era tax cuts. the president wand families making more than $250,000 to start paying more. democrats are reportedly negotiating to raise that limit. >> let's get this thing done. tonight when the ball drops, let's make sure we haven't also dropped the ball. >> i'm sorry that we are here, on new year's eve, and that we haven't solved this problem long ago. >> reporter: most of the nego
" on the cups to suggest to lawmakers to come it a budget deal and avoid the "fiscal cliff." >>> unexpectedly falling in the naughty list. christmas present that became a family's triple x surprise. >> for christmas yesterday, a lot of you tried to take those presents outside and met one some rainfall. but today we are looking at different conditions. how long does the dry stick around? i have your seven-day forecast all the way to next year coming up. ,,,,,,,,,,,, look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. in sacramento unwrapped an android tablet. c-b
the "fiscal cliff." that's required. is there going to be a deal today? we're all waiting and plus we'll take a look back at the biggest news stories:2012. we'll see you at 7: 00. happy new year. >> happy new year to you, too. thank you so much. >>> well, the last session of the year is under way on wall street. the dow has gained about 700 points in the last 12 months. ashley morrison of cbsmoneywatch.com joints us now. good morning. >> reporter: good morning. happy new year, everyone. strong manufacturing growth in china fueled most markets this morning. the shanghai composite gained more than 1.5% while hong kong's hang seng lost a fraction and tokyo's nikkei was closed for the holiday. >>> today is the last trading day of the year on wall street. investors are keeping a close eye on the "fiscal cliff" negotiations. with the deadline at midnight, let's head to wall street see where we stand as investors are watching closely to see what happens. as you can see the dow and the nasdaq are mixed at this point. the dow is down by 23 points. the nasdaq is higher by almost 7 points. >>> ford moto
, the president said he es modestly optimistic about a deal to avoid the fiscal cliff, which would mean avoiding automatic tax increases and spending cuts come january 1. the president spoke to the nation this evening after an hourlong meeting with congressional leaders at the white house. democrat and republican leaders have agreed to extend jobless benefits and some tax increases. they appear to remain deadlocked on who exactly will pay those higher taxes. wo have two reports tonight, beginning with major garrett at the white house. major, good evening. >> reporter: good evening, jeff. two things are clear tonight arat were not clear this morning: progress is real, and if a deal is reached, it will be ir smaller than any of the key players envisioned only a couple weeks ago. is this deal, if it's to be reached, will not be the so- called grand bargain with trillions of dollars of deficit lionction. in fact, jeff, it's not even clear this deal-- again, if there is one-- would stop the across-the-board spending cuts ulr the defense department and peher government programs. it looks like those cu
and returned to the white house to work on a deal to avoid the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democratic senate plan that extends tax cuts for families making less than $250,000 a year. >> that's the only option that is viable escape route. >> reporter: but republican leaders say it's up to democrats who control the senate and white house to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> reporter: house members will return to capitol hill on sunday and could begin voting that night. they would have about 24 hours
. >> and deadline day with the "fiscal cliff" just around the corner. why congress still can't close the deal. >> reporter: and we're live in san francisco, where firefighters are calling a house fire in the excelsior district suspicious. we'll tell you why and what may be behind the cause. ,,,, ,, it seems our angels have been busy building a new, stronger angel soft®. it's built with two softshield™ layers. stronger, holds up better, and still a value you love. new angel soft®. now stronger than ever. dance class, shopping, and more. so do something nice for it. chevron with techron. care for your car. house fire in san >> your realtime captioner: linda marie macdonald >>> arson investigators looking into a house fire here in san francisco. what made things so dangerous for the firefighters. >> skies clearing out very chilly around the bay area. will it rain on new year's eve? we'll talk about that coming up. >> and bart is offering extended service later on tonight for the new year's eve holiday. a check on that plus the rest of your morning commute. >>> good morning, everyone. it's mo
about my voice. this may be divine intervention because we didn't deal with the fiscal cliff. >> a senator from idaho is apologizing for his dui arrest. police stopped republican mike crapo in alexandria, virginia. >> after 80 years in print, "newsweek" magazine has its last issue on stands today. it will continue its digital format. >> if you haven't finished your holiday shopping, don't worry. millions of americans are expected to hit the store today. >> i have just started. >> i looked at the research footage and looked at your face quite a bit. you don't look a day over than you did 32 years ago. >> wide open with the catch. what a shot. seahawks win it, seattle is in the playoffs. >> and all that matters. >> norad will be tracking santa claus as he makes his way around the world delivering gifts to girls and boys tonight. >> on "cbs this morning." >> from kabul, afghanistan, happy holidays! "cbs this "cbs this morning." >>> welcome to "cbs this morning." i'm jeff glor with rebecca jarvis charlie rose. gayle king and norah o'donnell are off. >>> on the gr
, they are waiting to see what's going to happen with the "fiscal cliff." >> reporter: and hope is fading that congress can get a deal done before tax hikes and spending cuts kick in january 1. >> i am not optimistic. >> reporter: even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outs
think congress can pull off some sort of fiscal cliff compromise before major economic fallout sets in, there's one thing you need to be prepared for, for many of you, your paycheck will go down in the new year. here's why. the payroll tax was cut by two percentage points over the last two years to give the economy a little nudge. experts say that tax holiday is coming to an end and the small tax break adds up big over the course of a year. the center on budget and policy priorities says it's about $100 billion that will come out of our paychecks and go to the tax man. goldman sachs says that ending the tax holiday would shave 0.6 percentage points off economic growth next year which is not predicted to be all that strong anyway and here's the impact on you. let's say you make $50,000 a year, that's an extra $20 out of every single paycheck every week. doesn't seem like a lot of money but when you do the math, it sure adds up. that's $1000 you won't be taking home in 2013. jessica doyle, 9 news now. >>> angry, frustrated and confused, that's how many americans say they are feeling as w
the fiscal cliff. wyatt andrews is on capitol hill. what happens if there's no deal? john bentley has the fallout at the airport. >> they're putting a bunch of huge and ugly potholes on a road that was supposedly going to get us to economic recovery. >> the northeast gets walloped by another winter storm. and in the west, wet weather rewrites the forecast in california. and meet the burrito boys, ben tracey introduces us to 17 -- seven teams who embody the spirit of the zone. >> they have nothing and we ask for so much, and they ask for so little.
on fiscal cliff negotiations. before he left washington, the president said he believes a deal could be made before the december 31 deadline. >>> u.s. troops celebrated their 12th consecutive christmas in afghanistan. service men and women attended a service at the nato base in kabul, sang some carols, then enjoyed a holiday dinner. >>> and coming up on the "morning news," he may be messy funny, jack klugman from "the odd couple "has died. a look back at his remarkable career. [ female announcer ] introducing u the latest coffee machine from nespresso. modular. intuitive. combines espresso and fresh milk. the new u. nespresso. what else? available at these fine retailers. >>> firefighters in california battled a raging river yesterday to rescue a homeless man. he was living on an island in the los angeles river and got into trouble after a fast-moving storm tore through the area. rescuers used an inflatable boat to reach the island and tossed ropes to the man which he tied around a tree. the man was taken to the hospital and treated for hypothermia. >>> former president george h.w. bush is s
a deal to avoid the massive automatic tax hikes and spending cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so now harry reid is believed to be crafting a plan of his own. it's expected to extend bush-era tax cuts. it would also include short-term spending cuts instead of the massive cuts that would occur if there is no deal. it would also patch up the alternative minimum tax that will hit even more middle class families and schedule a drop off for doctors. >> if republicans do give in and support the deal being put together by harry reid that deal is expected to be far less favorable than the potential deal they had been work
on a plan to avoid the so- called "fiscal cliff." but house gop leaders say they will not return to washington unless the senate passes a bill. with no deal on the horizon, a new poll finds the gop gets the biggest share of the blame for the stalemate. >> both sides here have a problem with the american people and it's why congress has 11% job approval rating. >> even starbucks is gettingismy for an agreement. its employees are writing "col together" on coffee cups in d.c. to try to encourage compromise. >>> hawaii's lieutenant governor brian shots will replace the late democratic senator daniel inouye who died of respiratory complications last week. on the day he died he wrote to the governor asking for a female representative to replace him. she made it to the final round of consideration but did not win the nomination. >>> and former president george h.w. bush is in intensive care at a houston hospital with a fever and cough. mr. bush was admitted to the hospital more than a month ago with a bad case of bronchitis. he was then moved to the icu this past sunday. a bush family s
: the markets are closed for the christmas holiday. the deadline is closing in for a deal to ray void the fiscal cliff. avoid the fiscal cliff, billions in tax hikes and spending cuts will kick in. that uncertainty sparked another day of selling on wall street christmas eve. the dow dropped almost 52 points. >>> one of the most popular gifts under the christmas tree? gift cards. the national retail federation survey found 81% of shoppers bought gift cards this year spending an average of $150 each. >>> despite an increase in gift cards sales retailers anticipate holiday sales will be disappointing. while spending is expected to be up over last year, it is expected to be less than businesses were hoping for. >>> smart phones are a popular gift this year. next year smart cameras could be a big hit. they are already a couple on the market. nikon's new camera has wi-fi gps and many of the apps you'll find on an android smart phone. samsung's galaxy cam can also go an line allowing you to take pictures and immediately share them on social media. other companies are working on similar devices for next
part in "fiscal cliff" negotiations. >>> holiday sales grew at a weak pace this year. the weakest in four years. mastercard advisors spending pulse reports that sales in the two months before christmas increased .7% over last year. a lot of analysts expected sales to be up 3 or 4%. but wait, there is more. when i worked in retail when i was in college, christmas was busy enough. but the day after christmas? it was unbelievable! cbs 5 reporter cate caugiran is in san leandro where after- christmas shopping has already started. >> reporter: yes, brian. it started at 5:00 this morning at the bay fair center in san leandro. according to a consumer reports poll about 1 in 7 adults will return a christmas gift so that's part of it. for the other part i'm joined live now with keith mchugh with the shopping center here braving the rain with us, as well. thank you so much for joining us. >> my pleasure. >> reporter: what brings shoppers out here the day after christmas? it's the holiday, you think they would be sitting at home enjoying the holiday. >> i think the after christmas shopper is
weapons. >> glor: margaret brennan, thank you. there are eight days now until fhe fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress adjourned and president obama out of town, erme lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done. that would be close to the $4 trillion we need to stabilize the debt and begin to bring it down. >> i would vote for revenues, including tax rate hikes even ugh ih i don't like them, to get a-- to save the country from becoming greece, tax rate hikes are part of the solution driven by the president. but he's going to get tax rate hikes. ratey republican colleagues, if we can protect 99% of the american public from a tax hike that is not a tax increase in my books. >> glor: with christmas just two nuys away last minute gift buyers are out. today shopper track sa
tight lipped and smiling after working behind closed doors to avoid the so-called fiscal cliff. >> did you make progress today, sir? >> reporter: he and senate majority leader harry reid are working on a scaled-down agreement that focuses on a middle class tax hike on to prevent it. and house speaker john boehner was at the capitol and left with no comment. both sides remain at odds over the democrat's insistence the wealthy pay more in taxes. >> the president's tax hike would only fund the government for eight days. what and the president propose to do the other 357 days of the year? >> reporter: president obama insists his plan on the table is fair and includes plenty of cuts to government spending. >> we can't ford a politically self-inflict wound to the economy. if they don't pan out, he is ready to plomyself -- propose his own tax bill. patience is wearing thin. >> for those of us investing in the stock market, it's disgusting to watch them jockey around with our money. >> reporter: missing in all the last-minute northbounds is talks about the $1.2 trillion mandatory spending cuts
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